Mount St. Mary’s University is isolated from the rest of Emmitsburg, and from everywhere else. The campus sits along Route 15, with very few neighborhoods or establishments of any type nearby. When you live on campus, it can feel like you’re in a small, safe bubble where very few things go wrong. The security there is top notch, and serious crimes are scarce; they can seem nonexistent at times. If students have to move off campus, many of them worry that they’ll live in an area that won’t be as safe and protected as campus. Fortunately, if they live in Emmitsburg or any of the local towns nearby, they won’t have much to worry about. The crime in this region is low, and there are plenty of safe places where students can live comfortably. The concern students have regarding off-campus housing isn’t so much about the cost of apartments, but rather the availability of apartments. The best place to live would be Emmitsburg, but their rental market is stretched thin. There are some houses that can be rented, but aside from that the a variety isn’t too impressive. If you look within 15 miles of campus there isn’t much else, either. If you are a commuter student who can search further than that it’s your choice to do so, but if not then be weary that there aren’t many renting options close to school. St. Mary’s is located near the affluent ‘burbs of SoCal. Bel Air, Brentwood, Westwood, Beverly Hills... these are the closest neighborhoods to campus. These areas have huge homes, fancy cars, low crime, but most critically to students, very high housing costs. It can be frustrating for students because living on campus will set them back pricewise, and when they look off campus the same problem persists. Simply put: this is an expensive part of the state to live in, there’s no denying that. If you can find an affordable rental, there’s no sense in waiting and risking that it’s taken by someone else; just grab it. A lot of people want to experience what LA has to offer without actually living in the city. There's always bad traffic, there are crime issues in some areas, housing is expensive, and the public transportation isn't the best. Mount St. Mary's, fortunately, is on the outskirts of the city in a very nice community. Students are able to make trips into the city whenever they wish, like on the weekends or during breaks, but otherwise they can live in their nice, quiet college community. Their campus also sits on the base of the hills, which have a lot of nice parks and hiking areas for students to explore.
Welcome to the December 2022 Los Angeles Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the December 2022 key findings and figures for the Los Angeles rental landscape.
Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Los Angeles and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Los Angeles average rent prices in the chart below.
Los Angeles rent prices increased over the last month. From November to December, the city experienced a 0.89% increase for the price of a one-bedroom apartment. The rent price for a Los Angeles one-bedroom apartments currently stands at $2,382.0.
When we take a look at the two-bedroom comparison from November to December, Los Angeles experienced a 2.07% increase for the price of a two-bedroom apartment. The rent price for a Los Angeles two-bedroom apartments currently stands at $3,250.0.
Rent prices have increased in Los Angeles over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 4 of the Los Angeles suburbs increased last month. On the other hand, 3 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rent increased in Playa Del Rey, CA, Glendale, CA, Pasadena, CA, Anaheim, CA .
Rent decreased in Long Beach, CA, West Hollywood, CA, Fullerton, CA.
4 suburbs are currently priced higher than the city of Los Angeles.
3 suburbs are currently priced lower than the city of Los Angeles.
Rent growth in Los Angeles over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Los Angeles average rent prices appear to be relatively affordable for local residents.
The price for a Los Angeles one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.
You can view the full rundown of Rentable's December 2022 National Apartment Report and data set here.
For more information about Los Angeles and surrounding area rent prices, take a look at the complete data set below.
|1 BR December||1 BR M/M % Change||2 BR December||2 BR M/M % Change|
|Los Angeles, CA||$2,361.0||1.03%||$3,184.0||2.05%|
|Long Beach, CA||$1,926.0||-1.33%||$2,416.0||-3.13%|
|West Hollywood, CA||$2,413.0||-2.15%||$3,311.0||4.05%|
|Playa Del Rey, CA||$3,293.0||1.73%||$4,071.0||0.15%|
Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.